Meiji Yasuda Asset Management Co Ltd. Increases Stock Position in GE Vernova Inc. $GEV

Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 8.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,874 shares of the company’s stock after buying an additional 510 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in GE Vernova were worth $4,493,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. grew its stake in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova during the 3rd quarter valued at $25,000. Torren Management LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at $26,000. ORG Wealth Partners LLC grew its stake in shares of GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares during the period. Finally, Navalign LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at $27,000.

GE Vernova Stock Down 0.4%

Shares of GE Vernova stock opened at $1,039.71 on Friday. The company has a fifty day moving average price of $978.06 and a 200 day moving average price of $790.29. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a twelve month low of $458.65 and a twelve month high of $1,181.95. The stock has a market cap of $279.39 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 3.91 and a beta of 1.51.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 17.0% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio is 5.83%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GEV. Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. TD Cowen boosted their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. China Renaissance raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Citigroup upped their price target on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,090.76.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.